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Thanks to the Fool, I've built a successful, although not very large, portfolio for myself with SureTrade during the past year or so. My grandfather recently asked me to manage a large sum of money (approx $300,000) that he received (after taxes) as the result of the sale of his home.

Basically, he wants me to invest his funds as I do mine but wants to be able to draw a small amount of income that he can distribute to his three daughters. He has agreed to pay me for my trouble. However, that is not my only reason for agreeing to do this. The other reason is that neither my grandfather nor his daughters (one of whom is my mother) have ever successfully managed their money. In fact, they have all suffered through difficult financial times in the past and do not understand how to invest their money. I would like to be of assistance.

I know we need a financial planner but in the meantime do you have any thoughts, suggestions, etc. about how I can best handle this situation. Again, I need to be able to distribute funds (and yes, I know he will be taxed fairly heavily). Please understand I am not looking for investing strategies as I am well familiar with the Fool strategies. I am simply concerned about handling money for others.

I know this is an unusual message but this is an urgent matter for me. Please know I appreciate any advice out there.
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